Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

205 ILCS 305/9.1

(205 ILCS 305/9.1)

Sec. 9.1.

Disclosures of reports of examinations and confidential
supervisory information; limitations.

(1) Any report of examination, visitation, or investigation
prepared by the Secretary under this Act or by the state
regulatory authority charged with enforcing the Electronic Fund
Transfer Act or the Corporate Fiduciary Act or by the state
regulatory authority of another state that examines an office of
an Illinois credit union in that state, any document or record
prepared or obtained in connection with or relating to any
examination, visitation, or investigation, and any record
prepared or obtained by the Secretary to the extent that the record
summarizes or contains information derived from any report,
document, or record described in this subsection shall be deemed
"confidential supervisory information". Confidential supervisory
information shall not include any information or record routinely
prepared by a credit union and maintained in the ordinary course
of business or any information or record that is required to be
made publicly available pursuant to State or federal law or rule.

(2) Confidential supervisory information is privileged from
discovery and shall only be disclosed under the circumstances and
for the purposes set forth in this Section.

(3) Relevant confidential supervisory information may be
disclosed under a statute that by its terms or by rules
promulgated thereunder requires the disclosure of confidential
supervisory information other than by subpoena, summons,
warrant, or court
order; to the appropriate
law enforcement
authorities when the Secretary or the credit union reasonably believes the
credit union,
which the Secretary has caused to be examined, has been a victim of a crime;
to other agencies or entities having a
legitimate regulatory interest, including, but not limited to, a Federal Home Loan Bank; to the credit union's board,
officers, retained professionals, and insurers; to persons
seeking to merge with or purchase all or part of the assets of the credit
union; and where disclosure is otherwise required for the benefit of
the credit union. Disclosure of confidential supervisory
information to these persons does not constitute a waiver
of the legal privilege otherwise available with respect to the
information.

(4) A person to whom confidential supervisory information is
disclosed shall not further disseminate confidential supervisory
information.

(5) (a) Any person upon whom a demand for production of
confidential supervisory information is made, whether by
subpoena, order, or other judicial or administrative
process, must withhold production of the confidential
supervisory information and must notify the Secretary of
the demand, at which time the Secretary is authorized to
intervene for the purpose of enforcing the limitations of
this Section or seeking the withdrawal or termination of
the attempt to compel production of the confidential
supervisory information.

(b) Any request for discovery or disclosure of confidential
supervisory information, whether by subpoena, order, or
other judicial or administrative process, shall be made to
the Secretary, and the Secretary shall determine within 15
days whether to disclose the information pursuant to
procedures and standards that the Secretary shall
establish by rule. If the Secretary determines that such
information will not be disclosed, the Secretary's
decision shall be subject to judicial review under the
provisions of the Administrative Review Law, and venue
shall be in either Sangamon County or Cook County.

(c) Any court order that compels disclosure of confidential
supervisory information may be immediately appealed by the
Secretary and the order shall be automatically stayed
pending the outcome of the appeal.

(Source: P.A. 100-64, eff. 8-11-17.)